Pilgrim Petroleum Corp. (PGPM)

[Penny God]

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May 25, 2017
OTC Disclosure & News Service

Addison, TX -

Pilgrim Petroleum Corporation(PGPM), is an oil and gas exploration- development (E&D) company focus in proven fields exploited by well managed independent oil companies extracting reserves at lower risk and lower cost than unproved prospects; today issued the following letter to shareholders:

Dear Shareholders,

Pilgrim Petroleum Corporation "US Public Corporation" (PGPM) clarify that recent developments related to stock price has nothing to do with dilution, stock sale from insiders or debt conversions issuances. Moreover, the company is more interested in continuing with private capital, from a combination of insiders and certain private individual investors (friends and family). Further, "Management has chosen not to accept typical private equity funding at this time in an effort to maintain complete control and oversight of its operations-assets".

The purpose of this letter is to confirm our main priority, complete the process of compliance: "adequate current public information" pursuant to OTC Markets Groups Guidelines.